Renovated Mixed-Use
For Sale
$899,990
Pending
712-722 Eastern Ave, Fall River, MA 02723
Four-unit configuration combines three residential apartments with a separate commercial space, parking, a garage, and backyard.
Property Size4,451 SF
Days on Market130
Property Features for 712-722 Eastern Ave
General Information
Standard status
Pending
Size
4,451 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,001
Building Details
Building Size
4,451 SF
Year Built
1900
Year Renovated
2026
Stories
4
Units
4
Listing Agency:
Smith and Oak Real Estate Co.
(617) 916-3183
Listed By:
John Willette
(617) 916-3183
Source:
Elliman
Added: Apr 24
Changed: Aug 30
Last Checked: Aug 30 at 8:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Smith and Oak Real Estate Co.
Investment Insights
Based on property information with market context.
Located at 712-722 Eastern Ave in Fall River, this mixed-use property contains three residential apartments, a separate commercial unit, and a detached garage. The building was renovated in 2025/2026 and is currently vacant.
Each apartment includes six rooms, two bedrooms, and one full bathroom. The commercial component measures approximately 825 square feet and can support an owner-operated business or additional rental use. Additional site features include off-street parking and a spacious backyard, while the detached garage is identified as having potential for ADU conversion.
The property is near the newly built T station, hospitals, major highways, and downtown Fall River. WalkScore is 86, BikeScore is 58, and TransitScore is 34. The building dates to 1900.
Each apartment includes six rooms, two bedrooms, and one full bathroom. The commercial component measures approximately 825 square feet and can support an owner-operated business or additional rental use. Additional site features include off-street parking and a spacious backyard, while the detached garage is identified as having potential for ADU conversion.
The property is near the newly built T station, hospitals, major highways, and downtown Fall River. WalkScore is 86, BikeScore is 58, and TransitScore is 34. The building dates to 1900.
Key Highlights
- Three residential units plus one standalone commercial unit
- All three apartments offer 6 rooms, 2 bedrooms, and a full bathroom
- Commercial unit measures 825 +/- square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,544
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,590,880
$1.6M
Cap Rate 7%
$1,136,343
$1.1M
Cap Rate 9%
$883,822
$883.8K
Market Conditions
NOI Build-Up for 4,451 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$122.8K $27.60/SF
− Vacancy
−$9.2K −$2.07/SF
EGI
$113.6K $25.53/SF
− OpEx
−$34.1K −$7.66/SF
NOI
$79.5K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,590,880
Cap Rate 7%
$1,136,343
Cap Rate 9%
$883,822
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$994.3K – $1.33M
NOI $79,544 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$1.06M
$924.0K – $1.23M
NOI $73,923 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,741 @ 7.0% cap · market cap 21.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
880
Businesses Nearby
Explore this area
Business Placement
Demographics for 02723, MA
16,084
Population
7,976
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
10,053
Density / Sq Mi
$41,789
Median Household Income
$40,140
Median Earnings
$1,058
Median Rent
$312,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four-unit configuration combines three residential apartments with a separate commercial space, parking, a garage, and backyard.
Where is this mixed-use property located?
The property is located at 712-722 Eastern Ave Fall River, MA.
What is the asking price?
The asking price for this property is $899,990.
What are key features of this property?
This property features: Three residential units plus one standalone commercial unit; All three apartments offer 6 rooms, 2 bedrooms, and a full bathroom; Commercial unit measures 825 +/- square feet
